Economic Systems

In this economic system, there is high consumer satisfaction

In this economic system, supply and demand determine prices

“Great leaders never accept the world as it was and always work for the world as it should be."

Protection from injuries

Proletariat

Entitles people to own and control their possessions

This economic system lacks innovation

Father of Modern Communism

In this economic system, state officials answer the three basic questions

This economic system is supposed to be completely sharing, only consuming what you need

"There are no solutions, only trade offs"

This economic system is efficient

According to Marx, workers feel disconnected with their jobs

struggle of sellers to attract consumers while lowering costs

This economic system is called organized chaos.

Careful use of resources to reduce waste

encourages people to improve their well-being

In this economic system, central planning in not efficient

In this economic system, the government owns basic productive resources

More goods and services

Surplus value

Bourgeoisie

In this economic system, there is no incentive to work

“The confidence customers and employees have are very important to a business’s effectiveness.”

Act of buyers and sellers freely engaging in market transactions

What is considered full employment in a capitalist leaning economy?